Barings set to acquire Aqualung Group
July 17, 2023Barings, a leading investment manager, is in exclusive talks to acquire the Aqualung Group, a global leader in its market. All key stakeholders, including Barings and the lenders of the Aqualung Group, have agreed to a binding agreement that supports this capital evolution. This acquisition will support Aqualung’s ongoing transformation plan, which began in 2023 under new management and the Horizon 2027 initiative. Barings has a strong working relationship with Aqualung and has been providing financial support since the company was acquired by Montagu, a private equity firm, six years ago. Benjamin Gillet, Managing Director Global Private Finance at Barings, expressed confidence in Aqualung’s capabilities and praised the management team. Bruno Cercley, President and CEO of Aqualung Group, emphasized the company’s new era of development and improvement plans. The acquisition is expected to close in autumn 2023, pending regulatory approval. The specific transaction amount has not been disclosed.
